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key features of Tally

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Tally is an accounting and business management software developed by Tally Solutions. It is widely used by businesses and professionals for financial record-keeping and other related activities. Some of the key features of Tally are:

  1. Accounting: Tally is primarily known for its robust accounting capabilities. It supports various accounting features such as ledger management, journal entries, balance sheet preparation, profit and loss statement generation, and bank reconciliation.
  2. Inventory Management: Tally allows users to efficiently manage their inventory. It enables tracking of stock items, recording purchases and sales, managing stock transfers, generating stock reports, and facilitating stock valuation methods like FIFO (First In, First Out) and LIFO (Last In, First Out).
  3. Financial Management: Tally provides comprehensive financial management tools to handle aspects like budgeting, cash flow management, funds flow analysis, and financial statement generation. It helps businesses maintain a clear overview of their financial position.
  4. GST Compliance: In countries where Goods and Services Tax (GST) is applicable, Tally offers features to ensure GST compliance. It assists in managing GST registration, generating GST invoices, filing GST returns, and handling other GST-related tasks.
  5. Banking Integration: Tally can be integrated with bank accounts, enabling users to import bank statements directly into the software. This integration simplifies the reconciliation process and improves accuracy in financial transactions.
  6. Payroll Management: Tally includes payroll management functionality to handle employee-related tasks such as salary calculations, attendance tracking, payroll processing, and generating payslips. It helps automate payroll operations and ensures compliance with statutory requirements.
  7. Reporting and Analysis: Tally provides various customizable reports and analysis tools to help businesses gain insights into their financial data. Users can generate reports like balance sheets, cash flow statements, profit and loss statements, and ratio analysis reports.
  8. Multi-User and Remote Access: Tally supports multi-user access, allowing multiple users to work on the software simultaneously. It also provides options for remote access, enabling users to work on Tally from different locations.
  9. Security and Data Backup: Tally prioritizes data security and offers features like user access control, data encryption, and data backup capabilities. It helps protect sensitive financial information and provides peace of mind to users.
  10. Scalability and Integration: Tally is known for its scalability, making it suitable for businesses of all sizes. It can integrate with other software applications, allowing data exchange and streamlined workflows between different systems.

It’s worth noting that the specific features and functionalities of Tally can vary depending on the version and edition of the software.

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What Is Quotation Voucher

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A Quotation Voucher, also known as a Quotation or Quote, is a document used in business transactions to provide a formal offer or price quote for goods or services to a prospective customer. It serves as a written proposal detailing the terms, conditions, and pricing of a potential sale. Here are some key points about Quotation Vouchers:

  1. Purpose: The primary purpose of a Quotation Voucher is to provide the customer with a detailed proposal of the products or services being offered. It outlines the specifications, quantities, prices, delivery terms, payment terms, and any other relevant information required for the customer to make a purchasing decision.
  2. Request for Quotation: In many cases, a customer requests a quotation from a vendor or supplier when they are interested in procuring specific goods or services. The vendor then prepares the Quotation Voucher in response to this request.
  3. Legal Validity: A Quotation Voucher is a legally binding document in certain jurisdictions, depending on local regulations. It can be considered an offer or proposal, and if the customer accepts the quotation, it may form the basis of a contract.
  4. Professional Presentation: Quotation Vouchers are usually designed to be professional and visually appealing. They typically include the company’s branding, contact information, and any relevant terms and conditions.
  5. Time Validity: Quotations often have a validity period, which specifies the timeframe within which the quoted prices and conditions are applicable. After the validity period expires, the customer may need to request an updated quotation.
  6. Conversion to Sales Order: If the customer accepts the quotation, the Quotation Voucher can be converted into a Sales Order or an Invoice, depending on the specific business process and system in use. This conversion initiates the sales process, and the customer’s acceptance serves as an agreement to purchase the goods or services.

Quotation Vouchers play a crucial role in the sales process by providing potential customers with transparent information about the offerings, allowing them to evaluate and compare different options before making a purchase decision.

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E – way bill in Tally

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Tally.ERP 9, the popular accounting software, provides support for generating e-way bills as per the requirements of the Goods and Services Tax (GST) regime in India. Here’s how you can generate e-way bills in Tally:

  1. Enable E-Way Bill Feature: In Tally, ensure that the e-way bill feature is enabled. You can do this by going to Gateway of Tally -> F11: Features -> Statutory and Taxation -> Enable Goods and Services Tax (GST) -> Set ‘Yes’ for “Enable E-Way Bill”.
  2. Configure E-Way Bill Settings: After enabling the e-way bill feature, you need to configure the necessary settings related to e-way bills in Tally. This includes setting up your GSTIN, e-way bill types, transport details, and other relevant information. You can access these settings by going to Gateway of Tally -> F12: Configure -> GST -> E-Way Bill Configuration.
  3. Create an Invoice: Create a sales invoice or purchase invoice in Tally as you would normally do by going to Gateway of Tally -> Accounting Vouchers -> F8: Sales or F9: Purchase. Enter the details of the transaction, such as the party’s name, item details, quantity, rate, tax information, etc.
  4. Generate E-Way Bill: After entering the invoice details, Tally allows you to generate the e-way bill. You can do this by selecting the option “Generate E-Way Bill” in the sales or purchase invoice screen. Tally will prompt you to provide additional information required for the e-way bill, such as the transporter details, vehicle number, e-way bill validity period, etc.
  5. Validate and Save: After providing the required information for the e-way bill, validate the invoice to ensure that all the necessary fields are filled correctly. Tally will perform checks to ensure compliance with e-way bill requirements. If there are any errors or missing information, Tally will prompt you to correct them. Once the invoice is validated, save it.
  6. Print or Export E-Way Bill: Once the e-way bill is generated and the invoice is saved, you can print the e-way bill or export it in the required format. Tally allows you to generate the e-way bill in JSON or Excel format, which can be submitted to the GST portal for further processing.

It’s important to note that the specific steps and configuration may vary based on the version of Tally you are using and the updates provided by Tally Solutions to comply with changes in e-way bill regulations. Therefore, it’s recommended to refer to the official documentation or contact Tally support for the most accurate and up-to-date information on generating e-way bills in Tally.

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Cost Centre Vs Cost Category in Tally

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In Tally, “Cost Centre” and “Cost Category” are two different concepts used for tracking and analyzing expenses in a business. Let’s understand each term separately

  1. Cost Centre: A cost centre in Tally represents a specific department, division, or location within an organization where costs are incurred. It helps you track expenses and allocate them to different segments of your business. Cost centres can be used to monitor and control costs, measure profitability, and analyze performance across various departments or locations. Examples of cost centres could be Sales Department, Marketing Department, Production Department, etc
  2. Cost Category: A cost category in Tally is a broad classification of expenses based on their nature or purpose. It allows you to group similar expenses together for reporting and analysis purposes. Cost categories provide a higher-level view of expenses and are useful for generating financial statements and understanding the overall cost structure of your business. Examples of cost categories could be Direct Materials, Employee Salaries, Advertising Expenses, Utilities, etc.

To summarize, while cost centres represent specific departments or locations where costs are incurred, cost categories are used for classifying expenses into broader categories based on their nature or purpose. Both cost centres and cost categories are essential for effective expense tracking, analysis, and financial reporting in Tally

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Gst 2B Reconciliation in Tally

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Gst 2B reconciliation in Tally using Json Or ZIP file.

Just download JSON Or ZIP From Your GST Portal and Match Your Tally Data on Single click.

Report will Show GST Number Wise tax as Per Tally Vs As per GST portal.

If GST Data is Not available in Portal you can connect with your Client.

If Data is available in Portal and Not available in Tally Then you can make transaction in Tally.

if data Is partial match Like as per Tally 1000 and as Per Portal 850 then you can also see the different.

GSN Number Wise Tax Different you can Find.

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LR NO. & LR DATE UPDATE WITH REPORT IN TALLY

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We are develop a interesting addons in tally, update LR No. & LR Date with report. at the time of sales booking generally Tally operator have not receive LR No. & LR Date form transport. some time user ( Tally operator) didn’t have right to alter the transaction, and without alter transaction we can’t update these information.

over come this condition we are provide tally addons for update these information from report. Tally user just select the transaction and press update LR button after that input LR No. & LR Date , It will update in transaction level.

in this report have option to find the all pending to update LR No. and LR Number wise searching.

Also Display the information with respect transaction.

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Party Wise Product Wise Rate and Discount

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We are provide very interesting addons in tally . you can set Party Wise product wise rate and discount in Tally.

Example : – for example ABC Company want to fixed Product Rate and Discount Party Wise then is addons can use. at the time of sales billing rate and discount will copy as per party master set. if you didn’t set Rate or discount in Party master Then normal tally function will work.

We are also provide excel utility to update the product rate and discount in Party Master.

you can update product Rate and discount using this screen.

Just Like Maintain Price List Party Wise.

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